Napa Wealth Management Buys Shares of 1,205 AppLovin Co. (NASDAQ:APP)

Napa Wealth Management acquired a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,205 shares of the company's stock, valued at approximately $390,000.

Other hedge funds have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. acquired a new stake in AppLovin during the 4th quarter worth $25,000. Fuller & Thaler Asset Management Inc. bought a new position in AppLovin in the fourth quarter valued at approximately $25,000. Riverview Trust Co lifted its position in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares in the last quarter. Tucker Asset Management LLC acquired a new position in AppLovin in the 4th quarter worth $28,000. Finally, Hemington Wealth Management increased its holdings in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on APP shares. The Goldman Sachs Group lifted their target price on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Jefferies Financial Group boosted their price target on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Piper Sandler raised their price objective on AppLovin from $425.00 to $455.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. UBS Group upped their target price on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Arete Research set a $200.00 price target on AppLovin in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $433.85.

AppLovin Stock Performance

Shares of NASDAQ:APP traded down $4.27 on Friday, hitting $362.34. The company had a trading volume of 4,689,782 shares, compared to its average volume of 6,016,246. The stock has a 50 day moving average price of $283.05 and a 200 day moving average price of $316.16. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $123.18 billion, a price-to-earnings ratio of 79.81, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.22. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The business's revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 EPS. Analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

Insider Activity

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now owns 2,914,492 shares in the company, valued at $1,230,527,667.32. The trade was a 1.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares of the company's stock, valued at $201,675,501.85. This represents a 24.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,119,470 shares of company stock valued at $409,752,180. 14.69% of the stock is owned by insiders.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.